I submit this one-word summary of the recent G20 conference in Seoul, Korea, with regard to our lovely Mr Obama:
FAIL.
And not, I believe, a simple fail but — instead — an Abject Fail.
For example, from Reuters:
Analysis: German tempers fray as U.S. policy gulf widensBy Stephen Brown and Andreas RinkeBERLIN | Wed Nov 10, 2010 5:58am EST(Reuters) – Germany’s undiplomatic outbursts against U.S. policy, calling it “clueless” before a G20 summit, show growing estrangement on economics as America’s focus shifts away from transatlantic ties to domestic challenges and Asia.Germany and the United States often criticize each other’s approaches to aiding economic recovery, with U.S. calls for more expansive policy falling on deaf ears in fiscally disciplined Germany. But Berlin has taken the rhetoric to a new level.Finance Minister Wolfgang Schaeuble, 68, said last week that the U.S. Federal Reserve decision to buy $600 billion of government bonds undermined U.S. credibility and was “clueless.” There was no point, he said, in pumping money into the markets.China and Brazil were among those echoing his comments but U.S. officials were particularly stung by Schaeuble and German Economy Minister Rainer Bruederle saying the Fed move amounted to “indirect manipulation” of the dollar to boost exports; this at a time when Washington is criticizing China for exactly the same kind of strategy.“It’s not acceptable for the Americans to criticize China for currency manipulation then slyly help the dollar by printing at the Federal Reserve,” Schaeuble told Der Spiegel magazine.
And here’s the odd thing: Mr Obama walked away from this conference with nothing. No secured trade. No secured contracts. Clue to those with experience: because the G20 is announced every year, attendant countries clearly know, in advance, what to bring (their A–Game), what to negotiate, and what to leave behind. The G20 isn’t a time to craft your arguments or draft your submissions; it’s a time to place documents on tables and sign.
Did the US even get an export/import agreement from — of all nations — South Korea (about the easiest to acquire)? Hello? Kia? Samsung? Korean Air? Daewoo? FILA? Hanjin? Hankook? Hyundai? Hyosung? Kumho? LG Group? Hynix Semiconductor?
Uh: no.
Correct me, I may be wrong, but didn’t our Beloved Mr Obama campaign on the premise that the United States had to upgrade its standing in the world, much less the World Economy?
Even the Gray Lady says: Mr Obama, you’re unimpressive.
The G-20 refuse to fall in line with Mr Obama.
And the PIGS are toast: Portugal, Ireland, Greece, Spain.
BZ
P.S.
Mr Obama, you and your staff are such the neophytes, sir. You’re playing, now, not just your Second Stringers (your First Stringers having predominantly quit) but your Third Stringers now.
